In its first 48 hours of existence, Blum, a cryptocurrency trading programme that combines CEX and DEX facilities for a novel trading experience, attracted over 50,000 signups. The business intends to use data from reliable platforms and protocols to provide this universal token access.
Blum is a hybrid cryptocurrency exchange that was unveiled by a group of former Binance employees in an effort to provide a better trading environment for both novice and experienced users. Out of over 700 projects worldwide, the platform was chosen as one of 13 protocols and is supported by Binance Labs for its seventh cohort.
Hey, I’m Blum! Your all-in-one crypto trading app📱@Blumcrypto caters to Gen-Z and Millennials, streamlining coin trading with our innovative hybrid CeDeFi model 👇 pic.twitter.com/ckMxiOyOOS
— Blum (@blumcrypto) February 28, 2024
MVB is a 10-week accelerator programme designed to help developers, builders, and startups expand the BNB Chain ecosystem! Blum will get access to all the resources and assistance required with MVB VII to propel Blum to new heights.
The company also hinted that it would introduce a local exchange token in the future. The long-term plan is to create a blockchain that is specifically designed for order book DEXs, and there’s a possibility that Blum will function as the native currency in this environment. Currently, it would offer a point-based program that could later be converted into tokens.
By delivering an innovative off-chain order book with on-chain settlement, Blum hopes to enable the trading of cryptocurrencies on both centralised and decentralised exchanges. If there is enough liquidity, the tokens will automatically list.
According to the platform, Blum is now looking into possible locations for its headquarters and will specifically target nations like Dubai that have laws that are favourable to cryptocurrencies. The hybrid exchange aims to establish a global footprint, concentrating on developing markets like as Asia, especially in the central and southeast areas of the continent.
In keeping with the growing trend of cryptocurrency trading on the private messaging social network, the hybrid trading programme will also enable trading from mobile devices via a Telegram mini app. Users can alternate between self-custody and centralised options, enabling traders to make use of well-known wallets like MetaMask.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
